Rising car costs in 2023 - time to review your car loan?

By Paige Sutton · · 2 min read
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Family packing car for holiday

The rising costs of living have been biting Aussies this year, with transportation, along with housing costs and groceries being 2023's biggest expenses. 

Recent research from the Australian Automobile Association (AAA) shows that transport costs continue to increase for Aussies, with over 15% of household income being spent on this area. 

The cost per household has risen a whopping $1,730 a year in the last 12 months. 

Transport costs can include all operating costs to get your hot wheels on the road, along with public transport - but what about the basic bread and butter costs car owners face?

Fuel pricing is in focus 

Fuel is a necessity to vehicle owners making up 23% of transport costs, but those prices have been eye watering. However, there has been some relief! 

The AAA shows that fuel prices have been declining since the end of 2022 by almost $3 a week for Aussie households. The cities doing it toughest with the highest fuel prices are Hobart and Brisbane, with Perth coming in at the lowest prices. 

It should be noted that tyre costs are taking grip too.

The weekly costs of serving and tyres have risen $3 a week in the last 12 months for households, with the highest prices being in the cities of Canberra and Perth, says the AAA. 

The real rub? Car loan repayments 

Car loan repayments are in a league of their own and have been subject to their own interest rate battles.

It’s no surprise that car loan repayments have increased by $35 a week per household in the last 12 months. The current average weekly car loan repayment is $183.30 and makes up 44.4% of a household transportation costs. 

These types of costs needn’t dictate your buying experience. There are ways to tackle the problem. 

Finding the right car loan for you can be stressful, but having the right resources makes it easier. Making sure you know all the facts can help you reach your financial goals faster. Compare some car loan options below to help find the right one for you!

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 91 car loans using the filters.
Last updated 5 December 2025 Important disclosures and comparison rate warning*

Car loan comparisons on Mozo

  • Promoted

    Low Rate Car Loan Excellent Credit

    • Fixed, Secured
    Interest rate from
    5.66 % p.a.
    to
    23.03 % p.a.
    Comparison rate from
    6.45 % p.a.
    to
    24.98 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $605
    Go to site

    Borrow up to $100,000. No monthly account or early repayment fees. Available for new or used vehicles. Fast, simple online application with loan approval in as little as 9 minutes according to Harmoney.

  • Promoted

    New Car Loan

    • up to 4 years old, Fixed, Secured
    Interest rate from
    5.99 % p.a.
    Comparison rate from
    6.34 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Fast online conditional approval. No monthly account fee. Unrestricted additional repayments. No penalty for early payout, and a fast application process. Borrow up to $125,000. Apply online in under 10 minutes.

  • Promoted

    Car Loan

    • Variable, Secured
    Interest rate from
    5.99 % p.a.
    Comparison rate from
    7.12 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.

  • Promoted

    Used Car Loan

    • Fixed, Secured, No vehicle age limit, $5,000-$100,000
    Interest rate from
    5.95 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Get a competitive fixed interest rate on a secured used car loan of up to $100,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

  • Promoted

    New Car Loan

    • Fixed, Secured, $5,000-$100,000
    Interest rate from
    5.95 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    5.95 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Get a competitive fixed interest rate on a secured new car loan of up to $100,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

  • Promoted

    Car Loan

    • Fixed, Secured
    Interest rate from
    6.54 % p.a.
    Comparison rate from
    7.67 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $613
    Go to site

  • Low Rate Car Loan Excellent Credit

    • Fixed, Secured
    Interest rate from
    5.66 % p.a.
    to
    23.03 % p.a.
    Comparison rate from
    6.45 % p.a.
    to
    24.98 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $605
    Go to site

    Borrow up to $100,000. No monthly account or early repayment fees. Available for new or used vehicles. Fast, simple online application with loan approval in as little as 9 minutes according to Harmoney.

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.98 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

  • Debt Consolidation Loan

    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.98 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Roll multiple debts into one loan to streamline your finances with one set of repayments and one interest rate. Competitive fixed interest rates with no monthly or early repayment fees and flexible repayment options. Easy online application and funding in as little as 24 hours (subject to approval).

  • New Car Loan

    • up to 4 years old, Fixed, Secured
    Interest rate from
    5.99 % p.a.
    Comparison rate from
    6.34 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Fast online conditional approval. No monthly account fee. Unrestricted additional repayments. No penalty for early payout, and a fast application process. Borrow up to $125,000. Apply online in under 10 minutes.

Showing 8 results from 91 car loans. Use the filters to see more

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

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